Report: #1034889

Complaint Review: HSBC Beneficial

  • Submitted: Thu, March 14, 2013
  • Updated: Sat, April 27, 2013
  • Reported By: ggg — new orleans Louisiana
  • HSBC Beneficial

    United States of America

Show customers why they should trust your business over your competitors...

It's time for everyone to stop complaining and bring action toward HSBC Beneficial for ripping people off. How do you file a class action lawsuit against this company? They must be stopped their destroying so many people.
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This report was posted on Ripoff Report on 03/14/2013 04:37 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

The author "Coast" might be a collector.

AUTHOR: HSBCsNightmare - ()

I just wanted to mention that the author of the post I am responding to in this post might very well be a collection agency.

In my other posts here on Ripoff Report i have been looking for others that have been lied to during their attempt to get their loan with HSBC, HFC and Beneficial modified. But thought I should mention that "Coast" might be the Coast Professional, Inc. of West Monroe, LA a collection agency that appears to do a LOT of work for the predator type lenders. I realize I might be dead wrong but there is indeed a "Coast" that does collections and if we were to be successful in our Class Action it might cut into their business.

And while what "coast" says might be true it completely misses the point of what we're discussing and trying to do. Mainly hold HSBC etc... accountable for lying and INTENTIONALLY misrepresenting what they will do once you do what they say will get you a PERMANENT loan modification.

So when you see someone post something that says, in effect "you can't do that or a lender doesn't have to..." You should take it not with a grain of salt, but with the whole shaker. Because 8 or 9 times out of 10 it is either an employee of the company or someone that benefits when you can't make the payment.

And by the way, the old saying "Anyone Can Sue Anyone for Anything" is true, granted, without the evidence to back up what you aledge you're not going to win, but if you have evidence that promises were broken after you ACCEPTED their OFFER (even if its just verbally) there's no telling what might happen in front of a jury.

Cheers, S
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#2 Consumer Comment

After looking into a "verbal" promise..

AUTHOR: HSBCsNightmare - ()

There are indeed such things as verbal contracts and these verbal promises have been upheld as binding contracts and its fairly common to have them upheld as binding agreements. It doesn't happen a lot but when you can show that the same thing has happened to others then it gets a LOT easier to have a court rule the verbal agreement valid.

Seems the important thing in verbal agreements are pretty much the same as written agreements. Those things are the "offer" and the "acceptance" and what Beneficial did was make an "offer" that I "accepted". (And it seems that a lot of other folks did too)

One other thing to keep in mind is that when you are arguing about a contract, of any kind, it is ALWAYS construed AGAINST the party that wrote the contract.

However, I do realize that verbal agreements are harder to enforce than written agreements, but I believe that EVERY time I spoke with these predators the call was recorded and when we get to court we can file a "subpoena decus tecum", (forgive the spelling), that will compel Beneficial to produce copies of all the documents, recordings etc... related to each individuals' account and their attempt(s) to get their loan modified.

This CAN be successful if we get enough folks involved.

Cheers, S
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#3 Consumer Comment

Yes I know that a promise is not exactly a legal term However

AUTHOR: HSBCsNightmare - ()

I am posting here not because I am seeking just support for my individual case, I am posting here to develop information that proves a PATTERN of "BAD FAITH NEGOTIATIONS",. This will go a LONG WAY to establishing a class and a pattern of bad faith on the part of Beneficial, HSBC etc..

In my individual case I am pursuing other causes in my counterclaim against them and would REALLY appreciate hearing from anyone that has ANY type of bad experience with Beneficial, HFC, or HSBC.

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#4 Consumer Comment



I was included in a Class Action suit with HFC/HSBC through the Independent Foreclosure Review Board on behalf of my Mom's house because I am the Executor of her Estate.   
The review board determined that my Mom suffered a loss due to the deficiencies of her contract with HSBC and awarded her $1,000.00.
For more information contact
I wish you all the best.
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#5 Consumer Comment

Is 'promised' a legal term?

AUTHOR: coast - ()

"I was offered a 6 month trial modification that would convert to a permanent modification"

Do you have a signed contract that proves you accepted that offer and that both parties were in agreement?

"people that were promised"

Is 'promised' a legal term?

A party is not liable for something that is not in writing (such as a contract). Statements from dissatisfied customers are not documented proof that someone violated the terms of an agreement. A contract is proof that there was a mutual agreement, also known as a meeting of the minds.
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#6 Consumer Comment

We're you offered a 6 month trial mod that would be permanent?

AUTHOR: HSBCsNightmare - ()

I was offered a 6 month trial modification that would convert to a permanent modification if "you make all 6 payments on time"? I have come across many people that were promised the same thing and have started to collect names, addresses, phone numbers, contact information and details of your experience while dealing with Beneficial, HFC, HSBC and all other subsidiaries of HSBC, to begin to develop a legitimate class for a potential full blown class action, lawsuit.

This won't be easy but we must start somewhere and be serious about collecting any documents that would back up our claims. I need sworn, notarized statements that detail the experiences you, and anyone else, have had while trying to get a loan modification from any entity owned and or, operated by HSBC or any of their partners.

So, if this is something you're willing to do I need to speak with you ASAP!

Also, if you know or can find others that have been through the HSBC wringer, and lied to, promised modification that never happened or any other type of bad experience PLEASE let them know about what I am trying to do and have them contact me at beneficial"the at sign" But understand I will need sworn, notarized statements that explains in detail their experiences while dealing with Beneficial, HFC and HSBC etc... These statements don't need to be anything fancy you can even hand write what happened to you during your dealings with Beneficial, HFC and HSBC. Just write or type what happened take it to a notary and sign it in front of the notary and then have them notarize it.

DON'T embellish your story keep it honest, simple and straightforward. Include dates, phone calls, who you talked to and any other details you feel we might need to know, BUT, keep in mind the simpler the better, and if you have paperwork that you feel supports your statement attach it to your notarized statement and include in your statement a line that says something like "see the attached documents".

That's where we are right now, and any help you can provide will be greatly appreciated! This will be a long process but the sooner we start the sooner we might get some relief from the predator know as HSBC.

I look forward to hearing from ANYONE that wants to be involved. And PLEASE pass this information along to anyone you think might be interested in this action or has suffered because of the conduct of Beneficial, HSBC, any of its subsidiaries or any of their partners. And if anyone has any information that links Beneficial, HSBC etc... to ANY other financial institution we'd REALLY like to hear from you.

Again, I urge you to pass this information along to ANYONE that might be interested in becoming part of this action. We will need a LOT of "Plaintiffs" to make this work. Also feel free to contact me with any questions or, even better, suggestions.

Thanks, Steve

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#7 Consumer Comment

Where is the rip-off?

AUTHOR: coast - ()

Finance companies are not required to honor requests to change the terms of a loan.

Class action requires a large group of victims that suffered an injury or loss due to negligence or fraud of another party. Nothing in your report indicates that you qualify for a class action.

Not a rip-off.
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